Miner Pilbara Sees Lithium Demand Rallying on China Mine Restart
- Lithium carbonate prices have fallen about 87% after 2022 peak
- Firm swung to net loss in half-year earnings on low prices
Australia’s largest pure-play lithium producer Pilbara Minerals Ltd. said it sees demand recovering on the restart of a large mine and refinery in China, even as it reported a net loss in its half-year earnings.
Prices in lithium carbonate have fallen about 87% since peaking in 2022 and are down more than 22% compared with this time last year. That drove Pilbara Minerals to see a net loss of A$69 million ($44 million) in the six months ending Dec. 31, it said in corporate filings on Thursday. Shares were largely unchanged at A$2.01.